|Bid||41.08 x 3200|
|Ask||41.09 x 28000|
|Day's Range||40.94 - 41.78|
|52 Week Range||37.85 - 54.00|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.34|
|Expense Ratio (net)||0.74%|
Trade tensions continue to run high in the Trump White House. Once source of the tense talk: advisor Peter Navarro. The Atlantic's Annie Lowrey profiled Navarro and joins Yahoo Finance's Julie Hyman and Adam Shapiro to discuss.
With 2018 winding down, Goldman Sachs recommends paying attention to some key market topics that could play important roles in 2019.
In the previous article, we learned that Qualcomm’s (QCOM) revenue has fallen and its operating expenses have risen in the last two years as Apple (AAPL) has halted royalty payments and filed lawsuits against it. The high cost of litigation and the removal of revenue from Apple caused Qualcomm’s non-GAAP (generally accepted accounting principles) operating margin to contract from 35% in the first quarter of fiscal 2017 to 22% in the fourth quarter of fiscal 2018.
Qualcomm’s (QCOM) fiscal 2018 fourth-quarter revenue beat analysts’ estimate, but its fiscal 2019 first-quarter revenue guidance missed analysts’ estimate. Because the quarter’s sales will be largely influenced by Apple (AAPL). In the first quarter of fiscal 2019, Qualcomm expects to report revenue of $4.5 billion–$5.3 billion, lower than analysts’ consensus estimate of $5.57 billion.
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
As we noted in the previous part, US-based aluminum producers including Alcoa (AA) and Century Aluminum (CENX) have seen a selling spree this year despite President Trump’s Section 232 tariffs. Aluminum prices have also come under pressure. In this part, we’ll see what has been impacting aluminum prices.
According to Reuters, citing unnamed US government sources, “China has delivered a written response to U.S. demands for wide-ranging trade reforms.” Notably, the US-China trade talks were on a virtual hold for a few months before mid-term elections. Earlier this month, President Trump and President Xi Jinping had a phone call. As we note in the previous part, the trade war seems to be taking a toll on consumer and business sentiments in China (FXI).
For instance, it withdrew from its acquisition of NXP Semiconductors (NXPI) and fended off its acquisition by Broadcom. Although these actions removed uncertainty from Qualcomm’s business, they had a negative impact on the company’s fiscal 2018 fourth-quarter earnings and guidance. In the fourth quarter of fiscal 2018, Qualcomm’s revenue fell 3.3% YoY (year-over-year) but rose 3.6% sequentially to $5.8 billion, higher than analysts’ consensus estimate of $5.5 billion and on the higher end of its guided range.
In the BAML (Bank of America Merrill Lynch) November 2018 survey, trade war concerns were again named as the top concern among global fund managers. About 35% of fund managers surveyed cited it as their top tail risk, which is the same as last month and lower than 43% in September. The trade risk is still fresh, and the recent trade escalations between the United States and China (FXI) have kept fund managers concerned about ongoing trade tensions.
On Qualcomm’s (QCOM) fiscal 2018 fourth-quarter earnings call, CFO George Davis stated that the handset market has weakened over the last year. The company is looking to diversify its revenue streams in two ways: firstly by offering different smartphone technologies, such as RFFE (radio frequency front-end) and fingerprint scanners to increase the number of components per device, and secondly by entering adjacent markets such as connected cars. Qualcomm continues to offer its Snapdragon 800 processors for premium phones and has added Snapdragon 700 for high-end phones.